Ethiopia: Central Bank Unveils $175 Million Sale to Fund Fuel Imports Via Foreign Exchange Market

Ethiopia: Central Bank Unveils $175 Million Sale to Fund Fuel Imports Via Foreign Exchange Market

Addis Abeba -- In an effort to address upcoming fuel-related import payments, the National Bank of Ethiopia (NBE) has announced the allocation and sale of $175 million to the foreign exchange market.

Central bank unveils $175 million sale to fund fuel imports via foreign exchange market - Addis Standard

Mamo Mihretu, governor of the National Bank of Ethiopia (Photo: NBE/Facebook) Addis Abeba –In an effort to address upcoming fuel-related import payments, the National Bank of Ethiopia (NBE) has announced the allocation and sale of $175 million to the foreign exchange market. According to the NBE, these funds are intended to meet the foreign exchange requirements of the Ethiopian Petroleum Supply Enterprise (EPSE), the country’s principal importe…

National Bank of Ethiopia Allocates $175 Million to Support Foreign Exchange Market - Addis Insight

Addis Ababa, October 3, 2024 – The National Bank of Ethiopia (NBE) has announced a major allocation of $175 million to the foreign exchange market, aimed at supporting fuel-related import payments over the coming months. This move is expected to help alleviate pressure on foreign exchange needs, particularly for the Ethiopian Petroleum Supply Enterprise (EPSE), the nation’s primary importer of fuel and related products.Governor Mamo Mihretu high…